23. Mount Pleasant Community College Mount Pleasant Community College (MPCC) is a medium-sized academic institution that employs about 200 full-time faculty and 250 staff personnel. There are 11,439 students enrolled at the college for the 2017-2018 school year The Purchase Process. The college's budget for purchases of equipment and supplies is about 20,000,000 annually. Allen Lee is in charge of the Purchasing Department. He reports directly to the Vice President of Finance for the university. Allen supervises four purchasing clerks and three Systems 264 Core Concepts of Accounting Informetion ex receiving personnel. The office is responsible for purcha iving personnel. The office is responsible for purchases of all equipr mputer equipment and software and plant purchases or additions ments across campus manually fill out hard-copy ment. If the request is for computer equipment or soft r co is a need for equipment/supplies. Each department forwy Purchate the across The Payment Process. The various departments requisition forms the Department of Information Technology for action requisition is forwarded to Purchase requisitions are assigned to one of the three purchasing clerks by department. For i one purchasing clerk makes purchases for all university departments beginning with the lets through H (Accounting-History). Purchasing clerks check the requisition to make sure that a authorized and then consult the Approved Vendor Listing to find a supplier. The clerk ma supplier for pricing and product specification. Once this task is complete, the purchasing c the purchase out a multiple part purchase order. Clerks send copies of the purchase order to Central Re nce y contact enters requisition and vendor and price information into the computer system, which prints to the vendor, and to the Accounts-Payable Department. (The university considered usi its purchases, but chose not to adopt it due to the large number of vendors used.) When Central Receiving receives an order, a receiving clerk consults t to make sure that the correct product and quantity have been delivered. The clerk also checks the product for damage. Central Receiving does not accept any overshipments. Receiving clerks forward accepted shipments to the adjacent warehouse for distribution to the appropriate department. Clerks file one copy of the Receiving Report, send one copy to the Purchasing Department, and forward a third copy to Accounts Payable he Purchase Order f Eric Hammer is the Supervisor of Accounts Payable. Two accounting clerks report to him. He igns invoices to them for payment based on vendor name. One clerk processes payments f vendors A-M and the other clerk handles payments to all vendors with names beginning with letters N-Z. The clerks match each vendor invoice with a copy of the receiving report and purchase order before entering it into the computer for payment by due date. There are often discrepancies among the three documents. This requires frequent phone calls to the vendor, the Receiving Department, or Purchasing for resolution. As a result, the company frequently makes payments late and forfeits cash discounts. Requirements 1. Identify the important business events that occur within MPCC's purchase/ 2. What changes would you suggest to the current process to take advantage nology? payment process f information tech